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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Christie DeLeon purchased a ten-year $1,000 bond with semiannual coupons for $982. The bond had a $1,100 redemption payment at maturity, a nominal coupon rate of 7% for the first five years, and a nominal coupon rate of q% for the final five years. Christie calculated that her annual effective yield for the ten-year period was 7.35%. Find q.
The answer should be 5.21616%
Please show steps
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